BrainStorm Appoints Prof. Jeffrey Kordower to its Scientific Advisory Board; World Renowned Neurologist and Specialist in Gene and Neural Transplantation to Provide Company Invaluable Guidance.
Dr. Kordower presently holds a joint appointment at Rush Presbyterian-St. Luke's Medical Center as Professor of Neurosurgery and the Jean Schweppe-Armour Professor of Neurological Sciences. He has previously held a number of appointments at Rush including, but not limited to, Director, Section on Neuroscience, Professor Neurological Science, Director, Research Center for Brain Repair and Adjunct Professor, Department of Anatomy and Biology.
In addition to his academic role, Prof. Kordower has acted as a consultant to biotech and pharmaceutical companies, including , among others, Lederle Labs, Cortex Pharmaceuticals, Cytrx, Regeneron, Cephalon, Amgen, Provirus, Durect, Ceregene, Geron and Vertex Pharmaceuticals. He also advises the Food & Drug Administration and the Michael J. Fox Foundation, for Parkinson's Disease Research. Prof. Kordower is a member of the Society for Neuroscience, New York Academy of Science, Cajal Club, American Association of Anatomists, American Association for the Advancement of Science, International Behavioral Neuroscience Society, American Society for Neural Transplantation and Repair and the Chicago Chapter of the Society for Neuroscience.
Prof. Kordower has made numerous international presentations, is a frequent invited lecturer and has authored over 150 publications, which have appeared in peer reviewed journals. He holds a Ph.D. in Neuropsychology from Queens College, C.U.N.Y. and did his Postdoctoral training at the University of Rochester School of Medicine in Neurobiology and Anatomy.
"We are honored to welcome such an esteemed member of the neuroscience community to our Scientific Advisory Board. We are confident that his foresight and vision will assist Brainstorm to achieve its next stage of development," stated, Yaffa Beck, CEO.
"The appointment of Prof. Ole Isacson and Prof. Jeffrey Kordower reinforce management and the Board's determination to forge ahead with our strategic objectives," Beck concluded.
About BrainStorm Cell Therapeutics Inc.
BrainStorm Cell Therapeutics Inc. is an emerging company developing neural-like stem cell therapeutic products, NurOwn(TM), based on autologous bone marrow derived stromal cells, for treatment of neurodegenerative diseases. NurOwn(TM) patent pending technology is based on discoveries made by the team of prominent neurologist, Prof. Eldad Melamed, Head of Neurology at Rabin Medical Center, and expert cell biologist Dr. Daniel Offen, at the Felsenstein Medical Research Center of Tel-Aviv University, enabling the differentiation of bone marrow derived stem cells into functional neurons, as demonstrated in animal models. The company holds rights to develop and commercialize the technology through an exclusive, worldwide licensing agreement with Ramot at Tel Aviv University Ltd., the technology transfer company of Tel Aviv University. The company's initial focus is on developing treatments for Parkinson's Disease.
About Stem Cell Therapy
Stem cells are non-specialized cells with a remarkable potential for both self-renewal and differentiation into cell types with a specialized function, such as muscle, blood or brain cells. Stem cells may be sourced from fetal or embryonic tissue or from adult tissue reservoirs such as bone marrow. Use of embryonic stem cells, has become the center of significant ethical and moral debate. In contrast, use of adult stem cells does not face the same moral or legal controversy. Stem cell therapy aims to "cure" disease by replacing the 'diseased' cells with 'healthy' cells derived from stem cells. This approach has the potential to revolutionize medicine and, if successful, the implied commercial opportunities are great. Currently, both embryonic stem cells (ESC) and adult stem cells (ASC) are being explored as the potential basis for multiple cell therapy products.
About Parkinson's Disease
Parkinson's Disease (PD), which was first described by James Parkinson in 1817 as "the shaking palsy," is a chronic, progressive neurodegenerative disorder, affecting the brain cells responsible for production of dopamine. The symptoms include tremors, rigidity, slowness of movement and impaired balance. Over four million people in the developed world, including as many as 1.5 million Americans, mainly over the age of 65, are diagnosed with PD. That figure is predicted to rise by 10% by 2010. Pharmaceutical treatments of PD with an estimated combined annual market value of $4 billion, are insufficient to meet patient needs. The search for more effective treatments continues.
Safe Harbor Statement
Statements in this announcement other than historical data and information constitute "forward-looking statements" and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc. actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, risks associated with BrainStorm Cell Therapeutics Inc. limited operating history, history of losses and expectation to incur losses for the foreseeable future; need to raise additional capital to execute on its business plan; dependence on its license to Ramot's technology and ability to meet its funding and payment obligations included in such license agreement; ability, together with its licensor, to adequately protect the NurOwn(TM) technology; dependence on key executives who have recently joined the company and on its scientific consultants; ability to identify, negotiate and successfully implement strategic partnering relationships; ability to complete clinical trials successfully and to obtain required regulatory approvals; competition with companies, some of which have greater resources and experience in developing and obtaining regulatory approval for treatments in BrainStorm Cell Therapeutics Inc. market; the limited public trading market for BrainStorm Cell Therapeutics Inc. stock which may never develop into an active market; and other factors detailed in BrainStorm Cell Therapeutics Inc. annual report on From 10-KSB, quarterly reports on Form 10-QSB, current reports on From 8-K and other filings with the Securities and Exchange Commission available at http://www.sec.gov/ or by request to the Company.
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|Date:||Mar 30, 2005|
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